Bitcoin Declining: Will the Bull Cycle Continue?

The cryptocurrency Bitcoin experienced a price correction after reaching an all-time high of $73,700. Market participants turned to selling Bitcoin for profit realization. Blockchain data analysis platform CryptoQuant indicates that the bull cycle is not over yet and Bitcoin is evaluated to have declined compared to past market peaks. Investor Activities and Profit Margins Since March 2021, with Bitcoin being around $60,000, unrealized profit margins reached 69%, but despite ongoing sales, margins continue to remain high at 47%. When Bitcoin exceeded $70,000, large holders, miners, and whales offered their Bitcoin holdings for sale. Parallel to Bitcoin’s peak on March 12th, 567,000 Bitcoins were moved, accounting for 35% of total transfers in the Bitcoin network. Miners earned record-level daily income, and significant Bitcoin transfers took place in OTC markets. Future Trends of Bitcoin There are signs that demand from the United States has decreased after Bitcoin reached $73,000. Analysts predict that […]

Bitcoin Declining: Will the Bull Cycle Continue?

The cryptocurrency Bitcoin experienced a price correction after reaching an all-time high of $73,700. Market participants turned to selling Bitcoin for profit realization. Blockchain data analysis platform CryptoQuant indicates that the bull cycle is not over yet and Bitcoin is evaluated to have declined compared to past market peaks.

Investor Activities and Profit Margins

Since March 2021, with Bitcoin being around $60,000, unrealized profit margins reached 69%, but despite ongoing sales, margins continue to remain high at 47%. When Bitcoin exceeded $70,000, large holders, miners, and whales offered their Bitcoin holdings for sale.

Parallel to Bitcoin’s peak on March 12th, 567,000 Bitcoins were moved, accounting for 35% of total transfers in the Bitcoin network. Miners earned record-level daily income, and significant Bitcoin transfers took place in OTC markets.

There are signs that demand from the United States has decreased after Bitcoin reached $73,000. Analysts predict that if the correction continues, Bitcoin could decline to levels of $58,000-60,000. However, in the long run, the fact that new investment flows remain low is considered an indicator that the bull cycle peak of Bitcoin has not yet been reached. While short-term investors make up about 48% of current investments, historical data shows that bull runs end with 84-92% of this group’s investments.

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how to buy crypto?
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